According to Capital Economics,
the delinquency rate for US mortgages and foreclosure rate
for homes are now back to their historical averages.

"It must be remembered that after declining steadily since 2010,
the delinquency rate has now returned to its historic norm. It is
now at its lowest since the middle of 2006, and is equal to the
average seen from 1985 to 2005," said Matthew Pointon,
Capital Economics property economist.

The delinquency rate measures the number of
homeowners that are behind on their mortgage payments
but are not in the foreclosure process.

Pointon said that it was disappointing that the rate didn't
decline for the first time since the fourth quarter of 2013,
but it's not unexpected given that the rate is close to its
nonrecessionary norm.

"More encouragingly, the foreclosure start rate is continuing to
drop, and the decline over the past few years has outpaced that
of delinquencies," said Pointon. "At just 0.35%, it is at
its lowest rate since 2000."